(RTTNews) – The Canadian stock market suffered one of its worst setbacks in about four months on Monday as worries about the impact of coronavirus on the global economy triggered a sell-off.
Falling crude oil prices hurt as well.
The benchmark S&P/TSX Composite Index ended down 122.82 points, or 0.7%, at 17,442.52, well off the day’s low of 17,360.04.
Energy and healthcare stocks were the most prominent losers. The Capped Energy Index and the Healthcare index tumbled by 2.73% and 2.62%, respectively.
Information technology, materials, industrial and consumer discretionary shares also closed weak, while consumer staples and telecommunications shares closed higher.
Among energy stocks, Crescent Point Energy (CPG.TO), MEG Energy (MEG.TO), Encana Corp (ECA.TO), Baytex Energy (BTE.TO), Vermilion Energy (VET.TO), Whitecap Resources (WCP.TO), ARC Resources (ARX.TO), Parex Resources (PXT.TO). Canadian Natural Resources (CNQ.TO), Imperial Oil (IMO.TO)
In the healthcare space, Aphria Inc. (APHA.TO) tumbled 7.65%. Hexo Corp (HEXO.TO), Aurora Cannabis (ACB.TO), Canopy Growth Corp (WEED.TO) and Cronos Group Inc. (CRON.TO) lost 4 to 5%.
Information technology share Lightspeed Pos plunged more than 7%. Blackberry (BB.TO) and Sierra Wireless (SW.TO) lost 4.8% and 4.3%, respectively. Shopify Inc. (SHOP.TO), Kinaxis (KXS.TO) and Evertz Technologies (ET.TO) also ended sharply lower.
In the consumer discretionary space, Canada Goose Holdings (GOOS.TO) tumbled nearly 5%.
Among the stocks in the industrial space, Ballard Power Systems (BLDP.TO) and Air Canada (AC.TO) ended lower by about 5.9% and 5.2%, respectively.
In the financial section, Manulife Financial (MFC.TO) ended 2.5% down. CDN Western Bank (CWB.TO), Fairfax Financial Holding (FFH.TO) and Power Financial Corp (PFC.TO) lost 1.1 to 1.4%.
Consumer staples stocks Saputo Inc (SAP.TO), Metro Inc. (MRU.TO) and Alimentation Couche-Tard Inc. (ATD.B.TO) gained 2.4 to 3.3%. Loblaw (L.TO) ended higher by about 1.1%.
U.S. stocks declined sharply amid growing concerns about coronavirus outbreak. The Dow tumbled 1.5%, the Nasdaq plunged 1.9% and the S&P 500 slumped 1.6%.
According to Chinese officials, the death toll from the new coronavirus has jumped to 81, with more than 2,800 people infected globally.
Asian markets ended sharply lower. Markets in Europe too settled with sharp losses. Among the major indices, the U.K.’s FTSE 100 ended 2.3% down, while France’s CAC 40 and Germany’s DAX, both ended lower by about 2.7%.
In commodities, West Texas Intermediate crude oil futures for March ended down $1.05, or about 1.9%, at 53.14 a barrel, the lowest settlement price since October 15.
Gold futures for February ended up $5.50, or about 0.4%, at $1,577.40 an ounce, the highest settlement since early April 2013.
Silver futures for March ended down $0.057 at $18.056 an ounce, while Copper futures for March closed down $0.0875 at $2.5965 per pound.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
